Cambridge's technology industry is worth $191bn (£150.2bn) and accounts for 18% of the UK's total technology industry, new data shows.
Analysis by Dealroom, in partnership with accelerator Founders at Cambridge University, found that the value of the city's tech industry is now greater than that of Spain and Italy combined.
The research found that Cambridge tech companies secured a record $1.6 billion in the first half of this year, driven mainly by $1.05 billion in funding for Cambridge-founded, London-headquartered self-driving car company Wave and $300 million for quantum computing company Quantinium.
Much of Cambridge's success in technology is due to the University of Cambridge, which is ranked in Beauhurst's Focus on Spinouts report as the second most prolific spinout university in the UK after Oxford.
Notable technology companies coming out of Cambridge include Arm, Darktrace and Raspberry Pi.
Joram Weingaarde, founder of Dealroom, said: 'Cambridge University is a powerhouse in the world of science and technology, and for good reason: it has produced more valuable spin-outs than any other European university. We are producing more successful alumni founders.”
“The city needs to leverage its deep technology expertise to maintain its leading position and ensure it can continue to produce sector-defining companies into the future.”
Dealroom's findings were released ahead of the University of Cambridge Accelerator's investor demo day for founders.
The initiative was launched this year under the leadership of Gerard Grech, Tech Nation's founding CEO, before Tech Nation was acquired by Founders Forum.
“Cambridge is a powerhouse of innovation thanks to its combination of innovative entrepreneurs, forward-thinking scientists, research institutions and investors, and this data proves that,” Gretsch said.
“But we can't rest on our laurels. We need to ensure that the next generation of venture scientists has the support, mentorship and funding to build the next Wayve or Arm, and that's what we hope to achieve with the founders of the University of Cambridge.”
